Que. 1 : Q1) Which of the following statements is True? (1) the proposer need not disclose facts which he considers as not material. (2) Facts which are of common knowledge need not be disclosed.

   1.  a) Statement 1 is True

   2.  b) Statement 2 is True

   3.  c) Both are true

   4.  d) Both are false

Que. 2 : Q2) Which of the following statements is True? (1) insurance prevents the losses from happening (2) Insurance spreads the losses amongst the insured

   1.  a) Only Statement 1

   2.  b) Only Statement 2

   3.  c) Both Statements

   4.  d) Neither of the Statement

Que. 3 : Q3) The sharing of a claim between two insurers is called

   1.  a) Subrogation

   2.  b) Contribution

   3.  c) Reinsurance

   4.  d) Reinstatement

Que. 4 : Q4) Which of the following is not required for the Underwriting return?

   1.  a) Monthly Claims Paid Settlement

   2.  b) Preliminary Intimation of Claims

   3.  c) Analysis of Number of claims

   4.  d) Summary statement of Gross Premium

Que. 5 : Q5) Which one of the following is not one of the principles governing insurance contracts?

   1.  a) Principle of Utmost Good Faith

   2.  b) Principle of Insurable Interest

   3.  c) Principle of Indemnity

   4.  d) Principle of Honesty